Answers to your insurance questions

Millions of dollars have gone unclaimed in Canada. This is because people are unaware of a website that posts money being held for an employee that did not pick up that last cheque, an RRSP, utility deposit or for an overpayment not received.

Alberta is one of the provinces where the government is expanding on the list in hopes that people will claim these funds. Alberta companies and organizations have a deadline of April 30 to transfer to the province money left behind and the names of their rightful owners.

This is more than $6 million worth of unclaimed cash. It is not known yet how much money is owed to the people of Alberta.
There was $21.2 million turned over by companies and organizations In British Columbia from April 2003 and to the end of 2008.

Quebec has about $191 million in unclaimed cash and goods.

How do you get your money?
Albertans can check the website. There are plans to expand this registry.

It is more then just unclaimed cash. It could include artwork, jewelry and furniture.

A business that fails to comply with the province's unclaimed property legislation could face a fine as high as $25,000, while individuals could receive a maximum penalty of $2,500.

How long can you go back?

Wages are considered unclaimed after a year. Unclaimed bank accounts are listed on Bank of Canada's website .

Is an inheritance part of this?

Yes, the province's registry will include money and property turned over to the Crown when a corporation dissolves or when a person dies without specifying an heir in a will.

Some examples of how this has worked include a person who became aware of an uncashed $2,300 cheque from the Alberta government after a relative searched the registry. In two separate instances, Albertans received $350 and $9,000 from an American financial institution due to the money being left unused on preloaded credit cards.